816-977-2924
2302 Village Dr, Saint Joseph, MO for Sale
Apartments - FOR SALE
1/24
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2302 Village Dr
Saint Joseph, MO 64506


HIGHLIGHTS

  • Recent LIHTC Expiration – Immediate Market Rate Conversion Opportunity
  • Meticulously Maintained by Original Developer
  • Premier Retail Corridor Positioning & Strategic Regional Connectivity
  • Significant Value-Add Upside with Strategic Modernization and Market Rate Transition
  • Extremely Attractive Basis – Well Below Current Replacement Cost
  • Demand-Optimized Unit Mix – 70% Two-Bedroom Concentration

OVERVIEW

MMG Real Estate Advisors is pleased to present Westchester Village of St. Joseph, a 60-unit, 1993-vintage multifamily asset located in St. Joseph, Missouri — directly off the main retail corridor. Having exited the LIHTC program recently in 2024, Westchester Village of St. Joseph enters the market at a pivotal inflection point: rent and income restrictions have been fully lifted, and the conversion to market-rate operations is now present. The asset is offered by its original developer — its first appearance on the open market in over 30 years — providing an incoming owner with a well-preserved physical plant, a clear and executable value-add business plan, and immediate access to market-rate revenue streams previously unavailable under the LIHTC program. The combination of a constrained supply submarket, demonstrated comp support for materially higher rents, and a 70% two-bedroom unit mix positions Westchester Village as a compelling risk-adjusted opportunity for investors seeking durable cash flow and near-term revenue growth.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

60

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westchester Village of St Joseph

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

PARKING SPACES

110

LAND DETAILS

LAND ACRES

5.3 AC

LAND SF

230,868 SF

ZONING

CITY

APN/PARCEL ID

06-1.0-02-002-000-007.004

ASK ABOUT THIS PROPERTY

816-977-2924

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816-977-2924

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